Rapid core inflation rise leaves Bank of England behind, skyrockets bond yields
- UK headline CPI inflation fell to 8.7% in April, well off expectations of 8.2%.
- crypto slate previously reported that global core inflation was the biggest problem.
- The UK core CPI rose from 6.2% to 6.8% year-on-year, the highest level since 1992.
- Additionally, core CPI m/m was forecast at 0.7%, accelerating to 1.2%.
- The result was a sharp rise in yields and a severe inversion across the yield curve.
The Bank of England fell behind in the aftermath of a sharp rise in core inflation, and the spike in bond yields first appeared on CryptoSlate.